Consecutive Days SOPR < 1
Count of consecutive days the Spent Output Profit Ratio has stayed below 1.0 since the last cross. Extended streaks mark prolonged loss realization typical of capitulation phases; the counter resets when SOPR reclaims break-even.
What is it?
Symmetric to the above-1 version, this metric counts consecutive days SOPR has stayed strictly below the break-even line of 1 since the last cross. The counter rises as long as moved coins realise an average loss and resets upon return above 1. It quantifies the persistence of capitulation.
How to read
A rising value reflects a prolonged loss-realisation phase typical of capitulations. The longest streaks correspond to deep bear markets. The reset marks the return to aggregate profitability. The toolbar's «Zones» toggle adds two symmetric reading bands: 30-100 days = sustained capitulation (amber); beyond 100 days = extreme capitulation (muted green, a reading historically preceding bottoms).
Key zones
Zero marks each return above 1. Duration peaks have historically coincided with maximum-capitulation phases, often near cycle bottoms.
What to observe
An exceptionally long streak below 1 reflects exhaustion of loss-takers - historically a bottom precursor. Compare to the annotated maxima of past bear markets.
Historical context
Record streaks below 1 occurred at bear-market troughs (late 2018, mid-2022). Their end (a durable return above 1) marked the start of recovery phases. Halving markers situate these streaks within the cycle.
Expert notes
Like its symmetric counterpart, the counter measures duration, not loss intensity. A brief but violent capitulation (very low SOPR) differs from a long erosion (SOPR just below 1). Cross-reference with SOPR magnitude.
Common mistakes to avoid
A long streak below 1 does not mechanically herald further decline: prolonged capitulations often mark the approach of a bottom. It is a stress reading, not a directional forecast.
Programmatic access
REST API
curl -sS \
'https://api.trinityinsights.io/api/v1/onchain/consecutivedays-sopr-below1/history?days=90' \
-H 'X-API-Key: $TRINITY_API_KEY'MCP server
{
"tool": "get_chart_value",
"metric_id": "consecutivedays-sopr-below1",
"timeframe": "1y"
}Required tier: pro. See the pricing grid for the tier list and the MCP documentation for multi-client configuration.
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Institutional disclaimer
Trinity Insights is an educational and analytical tool. The metric above does not constitute investment advice. Trinity Insights is not a Crypto-Asset Service Provider (CASP) registered under MiCA Regulation (EU) 2023/1114. See the full disclaimer.